专题：四大证券报精华 炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 中国证券报 国务院常务会议提出 打造一批银发消费新场景新业态 国务院总理李强2月24日主持召开国务院常务会议，对抓紧做好春节假期后政府工作作出部署。会议指 出，今年是"十五五"开局之年，国务院各部门要进一步增强责任感紧迫感，瞄准全年目标任务，迅速进 入工作状态，推动党中央各项决策部署落地见效。尤其要树立和践行正确政绩观，坚持从实际出发、按 规律办事，自觉为人民出政绩、以实干出政绩。要着力抓好重点任务落实，按照职责分工尽快组织力 量，深入研究推进工作，确保取得实实在在的成效。要以创新的思路优化管理和服务，支持地方和企业 积极探索打造新增长点，多到一线了解企业诉求和群众急难愁盼，拿出更多有针对性的政策措施，不断 激发市场活力、增进民生福祉。 私募配置聚焦双主线 "弯道位置要控制好重心" 在经历了春节长假的休整之后，2月24日A股市场量价齐升，资金入场意愿较为强烈。与此同时，结构 性分化的暗流也在涌动。油气、有色、化工等资源品板块全线走强，影视院线、AI应用等题材则显著 回调。这种"冰火两重天"的格局，使得A股在马年的平 ...

央视网消息：今年春节，银发消费市场活力持续迸发，拉动节日消费增长。不同于传统居家过年模 式，旅居康养、体验民俗文化，成为不少银发族的新春消费新选择。 ...

中新网北京2月12日电毕马威近日发布2026年第一季度《中国经济观察》报告(下称"报告")。报告指 出，2025年中国经济实现顺利收官，但结构上呈现供需分化、内外需分化、新旧动能表现分化以及宏观 数据与微观体感之间的分化。2026年国内经济增速将维持稳健，供需分化格局有望加速弥合。报告从产 出、消费、出口等方面展开分析。 在产出方面，在工业企业出口需求旺盛、国内设备更新政策推进背景下，2025年制造业增加值总体同比 增长6.1%。与此同时，人工智能技术快速发展及资本市场表现回暖，带动信息技术、金融等服务业保 持较快增长，使得第三产业增速再度超过第二产业。展望2026年，"两重"项目在年初集中开工、"两 新"补贴在年初迎来首轮发放，有望带动上游原材料、下游消费品生产回升。 在消费方面，伴随悦己消费趋势的持续升温，居民消费结构加速向品质化、体验化转型，金银珠宝、化 妆品、服装鞋帽等消费增速温和回升，同时服务消费保持较强韧性。展望2026年，以旧换新政策将延续 实施并更加注重精准施策，重点向绿色消费、智能消费、银发消费等消费升级方向倾斜。 在出口方面，2025年中国外贸在复杂外部环境下实现稳量提质，贸易顺差创下历史 ...

Core Insights - In 2025, the domestic silver-haired consumption market transitioned from providing basic survival needs to offering high-quality living supplies for the elderly [1] - Significant growth was observed in various segments of silver-haired consumption, with health management and wellness services becoming new consumption hotspots, showing year-on-year revenue growth of 11.7% and 12% respectively [1] - The growth in the industry is driven by the upgrading of consumption concepts and capabilities among the elderly population, leading to a revolution in supply channels [1] Policy Support - In 2025, multiple policies were introduced by the government to enhance the silver-haired consumption industry, focusing on optimizing service supply for the elderly and supporting pilot projects for various services [2] - The Ministry of Civil Affairs and other departments issued measures to cultivate elderly service operators and promote the development of the silver economy, emphasizing the construction of convenient living circles and the development of suitable products for the elderly [3] Product Trends - The silver-haired consumption products are shifting from "one-size-fits-all" solutions to those that target specific needs and provide satisfactory experiences [7] - The health management awareness among the elderly is shifting from "post-treatment" to "prevention," leading to the emergence of niche markets in brain, gastrointestinal, cardiovascular, and bone health [8] - Sales of sleep aids for the elderly saw a remarkable increase of 300% year-on-year, with innovative products catering to specific health needs [8] Channel Innovations - The digitalization of the elderly population is accelerating, with 52% of internet users aged 60 and above as of mid-2025, leading to a shift in shopping habits towards online platforms [13] - Companies are increasingly utilizing short video platforms and live streaming to engage with the elderly consumer base, creating a new shopping experience [15] - Offline, businesses are focusing on meeting the immediate needs of the elderly in communities, with companies like 足力健 expanding their presence through community-based membership stores [16][17] Brand Engagement - Brands are increasingly recognizing the need to connect with the elderly population on a deeper emotional level, moving away from viewing them as mere consumers [20] - Campaigns featuring older celebrities are being used to resonate with the silver-haired demographic, promoting a positive image of aging and encouraging active lifestyles [22] - The narrative around aging is being redefined, with brands portraying the elderly as vibrant individuals capable of enjoying life to the fullest [22]

Economic Growth and Development - In 2025, Shanghai's GDP is projected to reach 5.67 trillion yuan, representing a 5.4% increase from the previous year, successfully meeting the annual and "14th Five-Year" economic growth targets [3] - The growth target for 2023 is set at around 5%, focusing on deepening reform and opening up, promoting consumption, expanding effective demand, and enhancing the quality of life [3] Industrial Development - Shanghai's industrial output value exceeded 4 trillion yuan last year, marking a historical high, with a focus on high-end industries as a key driver for high-quality development [4][5] - The city aims to create new trillion-level industries in sectors like smart terminals and commercial aerospace during the "15th Five-Year" period, while optimizing the business environment for enterprises [5] Foreign Investment and Trade - By the end of last year, Shanghai had recognized 1,076 multinational company regional headquarters and 636 foreign R&D centers, with plans to establish over 6,300 new foreign enterprises by 2025, reflecting a 6.8% year-on-year growth [6] - The foreign trade volume is expected to exceed 4.5 trillion yuan by 2025, with growth rates for imports and exports projected to surpass national averages [10] Employment and Skills Development - Shanghai plans to create over 600,000 new jobs by 2026, with a focus on enhancing skills and supporting long-term unemployed youth [12] - The city will leverage the upcoming World Skills Competition to promote new skills and align vocational training with market needs [12] Technological Innovation - Shanghai ranks first in comprehensive technological innovation among Chinese provinces and aims to increase R&D expenditure to 4.5% of GDP by 2025, with a focus on basic research [13] - The city is committed to fostering innovation ecosystems and enhancing the efficiency of its innovation system [13] Elderly Care and Consumer Services - Shanghai has established 122 smart elderly care facilities and plans to enhance technology-driven services in community and home-based elderly care [8] - The city has introduced guidelines for building senior-friendly shopping environments to cater to the elderly population [8]

昨天，上海市人民政府新闻办公室举行市政府主题记者会。市政府副秘书长、市发展改革委主任顾军， 市经济信息化委主任汤文侃，市商务委主任申卫华，市科委主任骆大进，市人力资源社会保障局局长杨 佳瑛和市民政局副局长娄国剑出席记者会，并回答中外记者提问。 经济：今年GDP增长预期目标为5%左右 2025年上海GDP增速跑赢全国，顾军表示，今年是"十五五"开局之年，全市生产总值增长预期目标为 5%左右，将着力以国家战略为牵引，全面深化改革开放；着力促消费扩投资稳外需，积极扩大有效需 求；着力培育壮大新质生产力，引领产业转型升级；着力深化改革创新，促进服务业优质高效发展；着 力以民心工程、民生实事为抓手，保障和改善民生。 产业发展方面，汤文侃表示，"十五五"期间上海将瞄准智能终端、商业航天、低空经济等新赛道，再造 万亿级产业新增量；因地制宜打造25个千亿级细分赛道；在工业企业百元营收成本比全国低3.6元的基 础上，优化产业营商环境，让各类优秀企业在上海成就更大事业。 "五个中心"：提升城市能级 取得更大突破 "五个中心"建设是上海"十五五"期间的重中之重。"今年我们将在提升城市能级和核心竞争力上取得更 大突破。"顾军表示，将 ...

Core Viewpoint - Shanghai aims to achieve a GDP growth rate of 5.4% in 2025, exceeding the national average, while focusing on deepening reforms and expanding effective demand to ensure a strong start for the "14th Five-Year Plan" [3] Economic Growth and Development - Shanghai's GDP is projected to reach 5.67 trillion yuan in 2025, marking a 5.4% increase from the previous year, successfully meeting the annual and "14th Five-Year" economic growth targets [3] - The city plans to focus on enhancing consumption, stabilizing investment, and promoting foreign demand to foster economic growth [3] Industrial Development - Shanghai's industrial output surpassed 4 trillion yuan last year, with a focus on high-end industries as a key driver for high-quality development [4] - The city aims to target new sectors such as smart terminals and commercial aerospace during the "14th Five-Year" period, creating new trillion-yuan industries [4] Foreign Investment - By the end of last year, Shanghai had recognized 1,076 multinational company regional headquarters and 636 foreign R&D centers, with plans to establish over 6,300 new foreign enterprises by 2025, reflecting a 6.8% year-on-year growth [5] - The city will enhance its international business environment and provide precise services to foreign enterprises to maintain its status as a preferred investment destination [5] Employment and Skills Development - Shanghai plans to create over 600,000 new jobs by 2026, with a focus on youth employment and addressing the impacts of AI on the job market [11] - The city will implement actions to promote skill enhancement and job matching, particularly for long-term unemployed youth [11] Technological Innovation - Shanghai's R&D expenditure is expected to increase from 4.1% to approximately 4.5% of GDP by 2025, with a significant rise in basic research investment [12] - The city will focus on strengthening its role as a technology innovation center, enhancing collaboration and efficiency in innovation ecosystems [12] Consumer Market and Trade - Shanghai's retail sales are projected to grow significantly, with initiatives to boost service consumption and brand development [13] - The city aims to enhance its foreign trade, targeting an export-import scale exceeding 4.5 trillion yuan by 2025, with growth rates surpassing national averages [9]

Core Insights - Shanghai has launched a "Silver Store" to cater to the elderly population, which is expected to exceed 37.6% of the city's registered residents by the end of 2024, addressing the needs of an aging society [1][2] Group 1: Silver Store Concept - The "Silver Store" provides a one-stop experience for elderly consumers, offering products such as smart assistive devices, age-friendly home goods, health foods, functional clothing, and entertainment options [2] - The store has shown promising operational results, with an average daily sales of approximately 30,000 yuan, peaking at 50,000 yuan in a single day, and has received widespread recognition from elderly customers and their families [2] Group 2: Development of Elderly-Friendly Consumption Spaces - The "Silver Store" is part of a broader initiative in Shanghai to create elderly-friendly consumption spaces, including rehabilitation assistive product experience centers and themed spaces in various districts [2] - The city has introduced guidelines for the construction of elderly-friendly shopping environments, focusing on aspects such as environmental facilities, product offerings, and operational management [3]

我们正见证一个历史性的消费图景变迁：规模庞大的新一代银发群体，不再满足于被定义为"夕阳红"，而是以饱满的自主意识，集体步入一个追求品质、 活力与自我实现的"第二人生"。他们的消费行为，绝非简单的规模叠加，而是一场深刻的需求变革，正倒逼整个市场与社会进行认知刷新与供给升级。 银发消费的核心动能，已从基础的生存保障，全面转向对生命质量的立体化建构。其需求呈现三个鲜明的升级维度： 1、健康管理：从"被动医疗"到"主动整合"。需求不再局限于治病，而是扩展为涵盖科学营养、规律运动、健康监测与慢病管理的"全周期健康解决方 案"，旨在为有活力的生活打下坚实基础。 3、观念侧：全社会亟待完成从"赡养扶持"到"共生共创"的根本性认知转变。他们是消费市场的重要主体，更是社会经验与活力的宝贵贡献者。 对于正在塑造"苏适养老"内涵的地区而言，这无疑是明确的行动方向。将产业、科技与文化优势，转化为真正尊重个体、提升生活品质的具体服务，是让 美好养老愿景照进现实的关键。 银发经济的蓬勃发展，最终映照的是一个社会的文明水位与未来远见。服务好这4亿人的"第二人生"，我们不仅在开拓一片充满潜力的新蓝海，更是在共 同参与构建一个对所有年龄都更加 ...

Core Insights - The core viewpoint of the article highlights the significant growth of China's health and wellness market, projected to reach 9.8 trillion yuan by 2025, with a particular emphasis on the rising trend of travel-based elderly care [1] Market Overview - The health and wellness market in China is expected to reach 9.8 trillion yuan by 2025, indicating a robust growth trajectory [1] - The travel-based elderly care segment is anticipated to surpass 200 billion yuan, reflecting a shift in lifestyle preferences among the elderly population [1] Consumer Trends - The trend of travel-based elderly care is becoming fashionable, especially as the Chinese New Year approaches, with many elderly individuals opting for travel to celebrate the holiday [1]